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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 16419
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I'm a UK resident and I've sold a flat (~60k) in France

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hello,I'm a UK resident and I've sold a flat (~60k) in France without gains.
Can I transfer the money to the UK and invest in the UK legally ?Thanks,
Clement

Hi, Sam here , one of the UK tax Experts here on Just Answer, thank you for your question and I shall reply shortly

Hi

When you say there is no gain - are you saying your made no profit in excess of £12300 as its the UK alws that count

Thanks

Sam

Customer: replied 9 days ago.
Hi Sam,Indeed, no profit at all. Actually even sold at loss.Cheers,
Clement

Hi Clement

Then you have nothing to declare but may wish to declare the loss in case you have gains in the future that you might wish to use this loss to offset against

Thanks

Sam

Customer: replied 9 days ago.
When you're saying "declare", you mean to HMRC right ?
So if I don't do it, the only "risk" is that I would pay more tax than I should if I had declared the loss that could be offset ?
Customer: replied 9 days ago.
from future gains, ISA excluded)

HI

Yes to HMRC

No if you do not declare the loss then it cannot be used at a future date - so yes is lost

Thanks

Sam

Sam and 2 other Tax Specialists are ready to help you
Customer: replied 9 days ago.
Ok, thanks for the answer, it's clear.

Hi

You are very welcome

Thanks

Sam